|
Sales Compensation Dimension
Sales Compensation Type
There are different elements in Sales compensation like Fixed remuneration,
commission linked to each transaction, performance bonus given the
target slabs, accelerating bonus if the performance continues over
time…Different sales staff and levels have different compensation
types.
Compensation Band
The compensation band is the various compensation slabs per sales
person/designation.
For example àyou want to find out how many sales managers
made between USD 1000 to USD 1500 of commission in direct sales
channel for Fax products. You have to slice across the dimensions
of product (Fax), Compensation type (Commission) and Compensation
band (USD1000 to USD 1500) and use the measure of number of sales
staff.
Sales Case Size
This dimension is the size of individual sales transaction. Most
of the companies try to get bigger sales and deals. Their compensation
practices and sales strategies are geared to this objective. For
example à you have to find out on how many of your life insurance
policies were over USD 10000 annualized premium for endowment product,
through captive agency channel v/s bank assurance channel, you will
look into Product (endowment), Channel (Agency, Banc Assurance),
Sale Case Size (10000+) and use the measure of number of sales transactions
(Number of policies sold)
“Date” of compensation payment
This is used to find out on how much of sales compensation was
paid in a given week, month and a quarter.
Sales Designations/Roles
This is to sort the compensation over different sales designations.
Compensation packages, performance evaluation parameters etc are
different across designations/roles.
|
